IFX Brokers versus AvaTrade
AvaTrade and IFX Brokers are major players in the forex market. What do they offer and how different are they?
IFX Brokers is a frontrunner in the South African foreign exchange market, with award-winning trading systems, first-rate support services, and strict adherence to FSCA guidelines. But how does this broker compare to AvaTrade, another prominent international broker?
This article contrasts IFX Brokers with AvaTrade.
Overview of AvaTrade and IFX Brokers
South African IFX Brokers was founded in 2018 as an internet trading broker. The corporation is guided by the ideals of commitment, openness, and trust, which are also its fundamental values.
Through its state-of-the-art MetaTrader 4 trading platform, the company provides private and institutional investors with a convenient one-stop-shop for trading and investing in a wide range of financial instruments online.
Forex, indexes, commodities, energy metals, and futures are all examples of such goods.
AvaTrade provides its customers with low trading fees, a wide variety of trading products, and a number of different trading platforms from which to make their trades.
Along with some of the most cutting-edge trading tools available, Avatrade also offers its customers a wide range of educational and market analysis resources.
As one of the most profitable and comprehensive Forex brokers, Avatrade is a popular choice among investors.
Cost of trading
When comparing IFX Brokers and AvaTrade, it’s clear that both are priced quite competitively and provide detailed cost information. IFX Brokers has the lowest average spread on the EUR/USD market at 0.2 pips, although AvaTrade’s spread is still quite low at 0.9 pips.
AvaTrade, on the other hand, offers commission-free trading for all account types, whereas IFX brokers require a cost of $6 USD per R100 ZAR for its VIP account holders.
Regulation and security
Trading Forex and CFDs with either IFX Brokers or AvaTrade is risk-free due to the brokers’ high standards and regulatory compliance. The Financial Sector Conduct Authority (FSCA) regulates both IFX Brokers and AvaTrade, making them both safe options for traders in South Africa.
AvaTrade is a global foreign exchange (FX) broker regulated by the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC).
When working with either IFX Brokers or AvaTrade, however, traders will have access to segregated bank accounts, compensation insurance and clear pricing terms.
Trading platform offering
Despite the fact that IFX Brokers offers the whole, award-winning suite from MetaQuotes, including both MetaTrader 4 and MetaTrader 5, AvaTrade narrowly outperforms IFX Brokers due to its more varied offering of advanced platforms.
AvaTrade clients can use the broker’s acclaimed unique mobile app, AvaTradeGo, in addition to the services of DupliTrade and ZuluTrade.
Expert Advisors from IFX Brokers’ MetaQuotes suite, and AvaTrade’s social copy software, both allow for social trading.
Both IFX Brokers and AvaTrade provide access to MT4 and MT5, two of MetaQuotes’ most prestigious and widely used platforms.
So, IFX Brokers and AvaTrade traders alike can make use of the social trading features of expert advisors, as well as other features such as technical indicators, market analysis, and a user-friendly interface.
